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IMotion to Buy Back 100 Million Yuan of Shares
Hong Kong stocks surged | Zhixing Auto Technology (01274) rose by more than 4% again and plans to spend up to 0.1 billion yuan to buy back shares. The company is expected to be included in the Hong Kong Stock Connect in September.
ZhiXing Autos Technology (01274) continued to rise by more than 4%. As of press time, it rose 4.37% to HKD 23.9, with a turnover of HKD 2.882 million.
IMotion Announces Buyback Plan to Boost Shareholder Value
Zhixing Autos Technology (01274.HK) plans to repurchase company shares worth no more than 0.1 billion yuan, demonstrating confidence in its own business development and prospects.
On August 12th, Geely Holdings announced that it plans to exercise its power under the general authorization granted by the special resolution passed by shareholders at its annual general meeting to be held on June 20th, 2024, and repurchase its H shares. On August 6th, 2024, the board of directors resolved to exercise the share repurchase authorization, with a proposed maximum fund utilization of RMB 0.1 billion, and to repurchase H shares in the public market from time to time, depending on market conditions. The board of directors believes that repurchasing shares under current market conditions will demonstrate the company's confidence in its own business development and prospects, ultimately benefiting the company and creating value for shareholders.
Express News | IMotion Automotive Technology Suzhou - to Repurchase H Shares up to RMB100 Mln
Express News | IMotion Automotive Technology Suzhou Co Ltd - Intention to Conduct on-Market Share Repurchase
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